On 11/20/2012 11:52 AM, Michael A. Terrell wrote:

"Edward A. Falk" wrote:

In article , azotic wrote:

Hostess management has been running the company into the ground for a
decade.

In 2005 the union made major concessions to the company, to the tune
of $150M/year.

They cut bakers pay by 8% and benefits by 32%

The CEO raised his own pay by 300%. Nine executives
received 60-100% raises while filing for their second
bankruptcy.

In 2011, they raided the employee pension fund and now owe it $160M

So now they blame the $20/hour employees for *their* failure.


Ler's see. They have ONE CEO, and 18,500 other employees. How much
good would it have done to cut the CEO's salary by 8%?


Cutting his salary by 8% instead of raising it by 300% would have
yielded enough money to pay each of the 18,500 workers an additional
$100. That is just the CEO, if the rest of the executives had taken a
similar haircut, they might have been able to save the company, but
since their goal was to loot it, it is really a moot point.